Latest Economic Figures

The worrying figures published last week showed that the economy shrank by 0.3 per cent at the end of last year. Half of the country saw yet another rise in unemployment, the long term unemployment figures went up again and so did youth unemployment.

For many months, calls for urgent action to kick-start our economy have been ignored. Now, after two and a half years of flat-lining and a double-dip recession, even the International Monetary Fund is losing patience with the Prime Minister and Chancellor.

The IMF warned again last week that we need a change of course in the Budget. A Plan B now should include a temporary VAT cut to boost family incomes and our struggling high street as well as bringing forward long-term infrastructure investment.

The longer the Government clings on to its failing plan, the more long-term damage they will do to our economy.